Elliot's Impulse waves.(Part-5)
IMPULSE WAVES :- The Basics Waves that move the market in the direction of its main trend either up or down are called Impulse waves. 1....
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5010-5039 supply zone proved a ST resistance. 5002 proved a break down point. 4945 to 4982 proved a corrective rise, monitored with an ... -
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Trading strategy that works wonders besides the supports & Resistance is " Retracement strategy ": The strategy that has wor...
32 comments:
@Crorepathi,, yes so we have to as many as share to youth.
small i-HnS in 2mins charts.. > 6830 can seek 6840-45 NS
To learn EW and wave's general characteristcs in 12345 and abc.
Watch today's BN's 2 min candle chart..with their sub-waves in the 3rd.
a small bullish WW developing in ns 2 min charts
may form pt4 near 6831ns
pt 5 may dip for a LL below 6818 near 1.35pm
trgts 6840-45 range near eod
BN displayed a "flat abc"..
ns near 6830 cmp.......may form pt4 here(6830 is also 55ema in 5 min charts)
Master,
C=A will seek 6790 NS ?
@ shriram,
Done.
Till now, it has been an easy one to figure. Now there are conflicting trend collision of week/ day & hour.
6805 6810 ... is 38%-50% retrace of the last fall from …… 6830 to 6790
80% is - 6822
If weakness is to return, it should be around 6805 6810
Strength gets confirmed above 6810 OR 6822
@Master,
I want to learn,
In The morning session you had mentioned that Today weekly close, so NS will Comes near WHEMA.
Means, In uptrend When NS trading above WHEMA Than Once it will comes to touch WHEMA??
Is it possible in Monthly trend in next week ,Is it comes to touch MHEMA???
Wt is technical behind your comment which you had mentioned in Pre_market ??
@ Prithvi Raulji ,
If there is weakness in one t/f lesser, then the possibility happens.
Guru ji in pre mkt update it is mentioned if resisted @6866-82 wkness could return ,kindly update these price levels thnx
@ amber,
Keep monitoring the last fall retrace: This is trailing strategy, and it works good in a trending market.
Present market is a corrective phase in a uptrending market. our trading plans are based on day and is likely to turn down.
Presently, the last fall is from 6830. Once hour shows bottoming, then the last fall may be considered from 6870.
Fractals in the 1st wave warned us of a short term correction, highlighted in yesterday's EOD chart.
Dear Sir, Can WHEMA be treated as support ?
--> Master,
Looking @ MACD ... 2 opts, either a ZZ is done or a A.iii is done ?? Ur eyes pls :)
Guru ji thnx
@ sony victor,
Yes. Possible. At the same time, the rise would meet with the recently established resistances-supply zones.
@ shriram,
BN shows more clearly; need to wait to see some pause before another low which would confirm a 5.
Nifty shows abc-x-abc kind of fall.
Right sir... on the indictor front this fall has dragged the RSI down to 6665 lows.. 68 PE OI too has not unwound...
DATA hints at a ABC ... will need to hold 6775 NS to be a valid count
@ shriram,
This low is critical; more critical would be what happens holding this low.
Week candle formation is another one to give away some clues of corrections ahead.
BN shows the impulsive 5th dn.
Thank u sir !
Even the line joining 4531-6229 NS, that now comes in the vicinity of 6815-20 NS...
A Doji on Wk & close below this line, is to be inferred as sign of a larger ABC down then , sir?
@ Sir , BN - week HEMA - 12872 and DLEMA is 12871 , Can we buy on positional basis with WHEMA and DLEMA as SL
Ilango said...
@ Prithvi Raulji ,
If there is weakness in one t/f lesser, then the possibility happens
Sir, in premarket you mentioned about prices touching whema. At that time prices were well above dhema.
If week close is below whema/wema, then can we say that prices may touch mhema??
@shriram
few days back u posted some beautiful combination of indicator reading like rsi and stochastic to hint zinzag or flat etc...i tried it but could not find can u reposted it if possible.
thanks.
@ Sir , same Question for NS WHEMA -6772 and DLEMA - 6776 ....
@ ANMP: Pl search it.. i dont remember the date..
@ Prabhanshu Raman,
We have seen in day t/f, prices closing below DHEma for one or two days and resuming their trend.
It could happen similarly to week too.
We need to remember that prices have broken out after 4 years of consolidation and at 6358. That is the level to change larger view.
All the rest are "flowing"...changing..
@ GANESH,
Till today's high or the 80% zone is not cleared decisively, a corrective phase continues.
You could choose top play longs or you could play "Resistances and supports".
dear ilango sir weekly trande is up and
whema hold that is suport..?
New Post Done.
Thank You Sir !!!
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